Precision Wealth Strategies LLC Buys Shares of 2,319 AppFolio, Inc. (NASDAQ:APPF)

Precision Wealth Strategies LLC bought a new position in shares of AppFolio, Inc. (NASDAQ:APPF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,319 shares of the software maker's stock, valued at approximately $510,000.

A number of other large investors have also recently made changes to their positions in APPF. Colonial Trust Co SC bought a new position in AppFolio in the 4th quarter worth about $28,000. Fifth Third Bancorp boosted its position in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker's stock valued at $39,000 after acquiring an additional 62 shares during the period. Versant Capital Management Inc grew its stake in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker's stock valued at $45,000 after acquiring an additional 199 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in AppFolio during the 4th quarter worth approximately $50,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in AppFolio by 10,300.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 208 shares of the software maker's stock worth $51,000 after purchasing an additional 206 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Price Performance

NASDAQ APPF traded up $3.11 during trading on Thursday, hitting $223.73. 280,389 shares of the company's stock traded hands, compared to its average volume of 276,205. The firm has a market cap of $8.06 billion, a P/E ratio of 41.74 and a beta of 0.87. The stock has a fifty day moving average of $215.94 and a two-hundred day moving average of $228.65. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). AppFolio had a return on equity of 25.83% and a net margin of 23.87%. The company had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. AppFolio's revenue was up 15.9% compared to the same quarter last year. As a group, analysts expect that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler reiterated a "neutral" rating and issued a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd. DA Davidson raised shares of AppFolio to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AppFolio currently has a consensus rating of "Moderate Buy" and an average price target of $274.43.

Insider Buying and Selling at AppFolio

In related news, CEO William Shane Trigg sold 5,900 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $211.45, for a total value of $1,247,555.00. Following the completion of the transaction, the chief executive officer now directly owns 70,647 shares in the company, valued at $14,938,308.15. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Erin Barat sold 4,682 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $227.79, for a total value of $1,066,512.78. Following the completion of the sale, the insider now directly owns 17,926 shares in the company, valued at approximately $4,083,363.54. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 18,500 shares of company stock worth $4,024,220 and have sold 11,639 shares worth $2,547,802. Corporate insiders own 4.68% of the company's stock.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.